SHIB finished the day at $0.00001438, reversing a loss of 1.54% from the previous day.
SHIB saw a volatile morning decline to a low of $0.00001377. SHIB rose to a late high of $0.00001449 after finding support at the First Major Support Level (S1) at $0.00001373. SHIB pulled down after falling short of the First Major Resistance Level (R1) at $0.00001463, closing the day at $0.00001438.
Fed Chair Powell Delivers Support for Meme Coins
Investors are awaiting an upgrade date and further upgrade information, such as transaction costs and transaction speeds, since the previous update occurred on January 7.
Investors in DOGE are also waiting on Twitter to provide updates on integration plans that might increase use.
Investors, however, drew their signals from Fed Chair Powell, the NASDAQ Index, and the larger crypto market because there were no network updates to affect them. In order to support the larger crypto industry, the NASDAQ Index increased by 1.90%.
Investors now must keep an eye on the cryptocurrency news wires for network updates. The NASDAQ Index and Fed chitchat would control DOGE and SHIB in the absence of any updates, though. Williams, Waller, and Barr, three FOMC members, will talk this afternoon.